The long-awaited XRP exchange-traded fund (ETF) from Bitwise could soon become a reality. Bitwise, the $15 billion asset management giant, has just submitted Amendment No. 4 to its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC), revealing two crucial details. Experts believe such updates usually signal the final step before approval. If cleared by the SEC, the XRP ETF could go live within just 20 days.
On October 31, Bitwise filed Amendment No. 4 with the SEC to update its S-1 form. The latest updated document includes two key details: first, the listing venue will be the New York Stock Exchange (NYSE); and second, the management fee will be 0.34%.
Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing marks a major step forward for XRP’s entry into traditional finance. “Adding the NYSE and fee means Bitwise has checked nearly all boxes,” he said. Historically, once issuers include exchange and fee details in their S-1 forms, it usually means they’re just waiting for the final green light from the SEC.
### XRP ETF Could Launch in 20 Days
Following the update, ETF expert James Seyffart of Bloomberg Intelligence provided more context. He noted that Bitwise’s latest filing contains “shorter language” that could allow the product to go live within just 20 days, pending SEC clearance. Seyffart also mentioned that Bitwise isn’t alone—major players like VanEck, Fidelity, and Canary Funds have also updated their filings, signaling that the race to launch an XRP ETF is heating up fast.
Meanwhile, Crypto America host Eleanor Terrett revealed that Canary Funds removed the “delaying amendment” from its S-1 filing, which gives the SEC control over timing. This change sets Canary’s XRP ETF up for a potential launch date of November 13, pending Nasdaq’s approval of its 8-A filing.
### Impact of XRP ETF on Price
After the latest XRP ETF updates, XRP’s price saw a modest uptick, trading around $2.51, reflecting growing optimism among traders. Analysts say that if the XRP ETF gets approved, it would mark the first-ever U.S. spot ETF for XRP—a historic moment that could push the token toward its all-time high price.
At present, XRP faces strong resistance near the $2.75 level. A breakout above this point could open the door for a test of the $3 psychological mark. However, if selling pressure continues, XRP might correct by up to 19%, potentially retesting the $2 support zone within its long-term channel pattern.
Stay tuned as the SEC decision approaches—this could be a defining moment for XRP and the broader cryptocurrency market.
https://coinpedia.org/news/xrp-etf-approval-nears-as-bitwise-confirms-nyse-listing-and-20-day-launch-window/
Be First to Comment